Deutsche Bank Starts Callon Petroleum (CPE) at Buy
- Wall St. edges higher, supported by banks, telecoms
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Deutsche Bank initiated coverage on Callon Petroleum (NYSE: CPE) with a Buy rating and a price target of $19. Analsyt Russell Koch sees growth.
"Having doubled its acreage in the Midland basin over the past year and a half, CPE is well positioned to generate peer-leading high-margin growth from its ~40k net acre footprint while delineating the long-lateral potential of Howard county where early results have exceeded expectations. Using its core Midland assets as a launching pad for expansion, CPE has been aggressive in acquiring inventory and resource potential, benefitting from first-mover advantages while improving its runway for growth. CPE’s core economics, capital efficiency, and inventory catalysts provide appealing upside to the forward outlook, and we see all the ingredients necessary for a beat-and-raise story to emerge," said Koch.
Shares of Callon Petroleum closed at $16.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Stifel Upgrades Green Plains Partners LP (GPP) to Buy
- Imperial Capital Raises Price Target on Eldorado Resorts (ERI) Ahead of Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!